State Street Corp Has $2.71 Billion Stake in Carrier Global Co. (NYSE:CARR)

State Street Corp raised its stake in shares of Carrier Global Co. (NYSE:CARR - Free Report) by 1.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,665,505 shares of the company's stock after acquiring an additional 469,108 shares during the quarter. State Street Corp owned approximately 3.75% of Carrier Global worth $2,709,736,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fisher Asset Management LLC raised its position in Carrier Global by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 14,267,109 shares of the company's stock valued at $1,148,360,000 after purchasing an additional 269,538 shares during the last quarter. FMR LLC raised its holdings in shares of Carrier Global by 36.2% in the third quarter. FMR LLC now owns 8,729,073 shares of the company's stock valued at $702,603,000 after buying an additional 2,320,909 shares during the last quarter. PineStone Asset Management Inc. lifted its position in Carrier Global by 139.7% during the 2nd quarter. PineStone Asset Management Inc. now owns 6,418,883 shares of the company's stock worth $404,903,000 after buying an additional 3,741,206 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Carrier Global by 1.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,993,169 shares of the company's stock worth $482,390,000 after acquiring an additional 110,988 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Carrier Global by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,744,407 shares of the company's stock valued at $381,877,000 after acquiring an additional 49,196 shares in the last quarter. Institutional investors and hedge funds own 91.00% of the company's stock.

Carrier Global Trading Down 0.5 %

CARR traded down $0.37 during mid-day trading on Friday, hitting $73.62. The stock had a trading volume of 3,926,751 shares, compared to its average volume of 4,203,181. Carrier Global Co. has a 1-year low of $52.54 and a 1-year high of $83.32. The firm has a market capitalization of $66.05 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 2.80 and a beta of 1.33. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.08 and a quick ratio of 0.82. The stock's fifty day simple moving average is $77.35 and its 200-day simple moving average is $70.95.

Carrier Global declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 24th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 4.6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Carrier Global Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.225 per share. This is a positive change from Carrier Global's previous quarterly dividend of $0.19. This represents a $0.90 annualized dividend and a yield of 1.22%. Carrier Global's payout ratio is currently 19.24%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. began coverage on shares of Carrier Global in a research report on Thursday, October 10th. They set a "neutral" rating and a $83.00 target price on the stock. Morgan Stanley assumed coverage on Carrier Global in a report on Friday, September 6th. They set an "equal weight" rating and a $75.00 price objective on the stock. Royal Bank of Canada lowered their target price on Carrier Global from $91.00 to $87.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Bank of America lifted their price objective on Carrier Global from $80.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Robert W. Baird cut their target price on shares of Carrier Global from $88.00 to $86.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $82.54.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.